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LEASES (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Operating Lease Cost and Supplemental Cash Flow Information Related to Operating Leases

The following table presents the Company’s operating lease cost and supplemental cash flow information related to the Company’s operating leases (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease cost	$	537	$	456	$	1,609	$	1,316
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$	—	$	1,503	$	—	$	9,776

Schedule of Weighted Average Assumptions Used to Compute Right-of-use Assets and Lease Liabilities

The following table presents weighted average assumptions used to compute the Company’s right-of-use assets and lease liabilities:

	September 30, 2020
Weighted average remaining lease term (in years)		7.2
Weighted average discount rate		5.5	%

Schedule of Undiscounted Future Minimum Lease Payments Having Non-cancelable Lease Terms

Undiscounted future minimum lease payments as of September 30, 2020, by year and in the aggregate, having non-cancelable lease terms in excess of one year were as follows (in thousands):

	Maturities of Operating Lease Liabilities
2020 ⁽¹⁾	$	388
2021		1,278
2022		1,209
2023		1,070
2024		1,007
Thereafter		3,771
Total lease payments		8,723
Less: Imputed interest		(1,539	)
Present value of lease payments	$	7,184

(1)	Scheduled maturities of lease liabilities represent the time-period of October 1, 2020 to December 31, 2020.